Garrett Motion downgraded to Hold from Buy at Freedom Broker

Freedom Broker analyst Dmitriy Pozdnyakov downgraded Garrett Motion (GTX) to Hold from Buy with a price target of $26, up from $22. Garrett delivered a “strong” Q1 beat on both revenue and profitability, raised full-year guidance, and continued to demonstrate share-of-demand gains, notes the analyst, who believes the risk/reward is now more balanced following the stock’s rally.